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David Bradford offers the best form of progressive consumption taxation for the United States To achieve progressively the X tax modifies the value added tax by splitting its consumption tax base into two components wages and business cash flow The X tax applies graduated tax rates to households wages and applies a flat tax rate eual to the highest wage tax rate to business firms cash flows The auth.
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Ors outline concrete proposals for the X tax s treatment of pensions and fringe benefits business firms financial intermediaries international transactions owner occupied housing state and local governments the transition and other issues By adopting the X tax the United States can preserve tax progressively while promoting economic growth through the removal of tax penalties on saving and investmen.
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Alone among developed countries the United States has no broad based national consumption tax Yet economic analysis suggests that consumption taxation is superior to income taxation because it does not penalize saving and investment The authors conclude that the US income tax system should be completely replaced by a progressive consumption tax The authors argue that the X tax developed by the late.